asked the Minister for Finance if he will state the total sums repaid by way of remission of income tax under Section 7 of the Finance Acts, 1932-33, 1933-34 and 1934-35.
Ceisteanna—Questions. Oral Answers. - Income Tax Remission Payments.
It is presumed that the Deputy wishes to know the total cost to the Revenue of granting the relief in question. As relief may have been given in certain circumstances by way of allowance granted by local inspectors, the particulars of repayments alone would not necessarily give a correct view of the position. In fact, no statistics bearing on the point are available at present, and the labour and expense of preparing statistics specially would not be justified. As the first issue of capital in respect of which a certificate under the section was granted was not made until July, 1933, and as there were only two such issues, both of them small, prior to December, 1933, the cost of the concession was nil for 1932-3 and was negligible for 1933-4. If the Deputy will repeat the question in, say a fortnight, I will endeavour to furnish an estimate of the cost up to date for the year 1934-5.